Summary - Flat 4, 113, Parliament Street DE22 3WJ
2 bed 1 bath Flat
Compact income-producing apartment with secure parking near Derby amenities.
Gross rent £9,600 pa (currently tenanted)
A compact two-bedroom leasehold apartment in a modern development close to Derby city centre, currently let and producing a gross rental income of £9,600 per year. The open-plan living/kitchen, double glazing and mains gas heating make for low running costs and straightforward management. Off-road parking behind electric gates and communal gardens provide useful tenant amenities.
This flat is smallest-sized at around 538 sq ft and sits in a neighbourhood classified as a cosmopolitan student area with a high private-renting population. The property is therefore well suited to investors seeking immediate income or buyers prepared to let — the existing tenancy allows possession of income on completion but viewings will need arranging through the tenant.
Buyers should note material negatives: the area records very high crime and is relatively deprived, which can affect tenant mix, rental growth and resale prospects. Service charge and ground rent are modest (£806 service charge, £150 ground rent), and the lease has about 108 years remaining, which is acceptable for long-term holding.
Overall this is a practical, low-maintenance investment in a modern block offering immediate yield, but it carries local-area risks that suit buyers focused on rental income rather than long-term capital premium.
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